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Felicia Tan
in
Stocks
July 31 22:52

The European market is growing, supported by Paribas and Nokia reports

The European stock market opened with growth on Friday thanks to continued support from the European Central Bank and positive corporate earnings data, despite weak GDP growth data and the continuing threat of a coronavirus epidemic.
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At 04:00 EST (08:00 UTC), the DAX in Germany was trading 0.7% higher, CAC 40 in France was up 0.6%, and the FTSE UK was up 0.5%.
Second-quarter GDP figures from France and Spain followed Thursday's data from Germany and the U.S., which reported a terrible drop in GDP due to quarantine imposed to combat the Coronavirus pandemic. The EU's official release will be published later.
European Central Bank President Christine Lagarde told the French newspaper Le Courrier Cauchois that the ECB should maintain its bond purchase program "at least until June 2021" to help support the economy.